Gilded Age

Laissez Faire definition

• the combination in one company of two or more stages of production

• a policy or attitide of letting things take their own course without interfering

• an economic system in which private business operates

• a person who has become rich through ruthless and unscrupulous business practices

Free Enterprise

• an economic system in which private business operates in competition

• exclusive possession or control of that supply

• authority or license conferring a right to title for a set period

• enated with the aim of protecting

Protective Tariffs

• control of the supply

• belief in the reliabilty or strength of someone

• enacted with the aim of protecting

• attitude of letting things take their own course

Horizontal Integration

• exclusive possession or control of the supply of a trade

• steel making process

• license conferring a right to title

• acquisition, merger, or expansion of a business that increases the market share

What is a patent

• Government authority or license conferring a right or title for a set period especially the sole right to others from making, using, or selling an invention

• person who has become rich

• policy of attitude of letting things take control

• belief in the reliability or strength

Bessemer Process

• combination in one company

• possession or control of the supply

• Steel making process, now, largely superseated in which carbon, silicon, and other impurities are removed from molten pig iron or oxidation

• trade in a commodity or service

What is a Trust

• Having faith in someone

• Firm belief in the reliability or strength of someone or something

• arm protecting

• private business operates

What is a monopoly?

• The exclusive possession or control of the supply of or a trade in a commodity or service

• stages of production nomally

• become rich through a process

• exclusive possession

What best describes Robber Barons

• making, using or selling an invention

• A person who has become rich through ruthless and unscrupulous business practices.

• exclusive possession

• seperate companies

What is vertical integration

• steel making process

• exclusive possession or control of the supply

• Combination in one company of two or more stages of production normally operated by seperate companies

• acquisition, merger, or expansion of a business that increases the market share